China's booming economy can't keep up with its demographic crisis, as millions of new college graduates are unable to find good jobs.
Graduates live by the thousands in "intellectual slums" on the outskirts of Beijing, according to France 24.
Many residents are stuck in the slums, burdened with heavy student loans and a saturated job market.
A series of photos posted on a Chinese message board chronicle the life of young graduates in the Tangjialing slum. The post, La solitude do DanDan, includes a depressing narrative by the author.
In the long run, a more educated population will do wonders for the Chinese economy. But in the meantime, this should serve as a strong reminder of how much wealthier our society remains (for now).
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US Government Made a 'Mistake" On Job Loss
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from the bloomberg article :
ReplyDelete"was in worse shape during the recession than known at the time"
Apparently, on the planet that Bloomberg occupies, the recession is in the past, and there is no depression period.
How farking bizarre.
They play around with these numbers so much. What will it mean to tomorrow's figure. That should push it up to 10.6-10.7% I would think given January will be negative for sure but who knows.
ReplyDeleteChinese college grads living in slums - actually sounds like a very promising development, since the seeds of Chinese communist goverment overthrow are nurtured in this kind of environment. Perhaps these intelligent but desperate college students will learn from the history of the American founders and organize a coup of somekind to bring true freedom and democratic government to the Chinese citizens. Wishful thinking, yes - but still possible nevertheless.
ReplyDeleteIt's so much better here? I have a (December '09) mechanical engineering degree bunking with his (May '09) civil engineering degree'd brother and they both live with us because there are NO jobs for them.
ReplyDeleteWow, from last post...Now I know why America is going downhill. Real classy stuff...
ReplyDeleteA friend of mine ownes a store that sells some furniture and bunk beds are going out the door as fast as he gets them in. He is currently out and keeps getting calls for them. People are doubling and tripling up just to survive.
ReplyDeleteWhen the wave of tax and fee increases from the Federal, State, County, and City governments along with higher energy prices and stagflation hit things will only get worse here.
On the flipside, that could mean that more American sheep are procreating and creating more mouths to feed. Let's hope that isn't the case.
ReplyDeleteThe latest news is that the Vatican comes here to get their news. Word has it that their researchers are working day and night to stay ahead of the curve and keep the sheep pacified. Every time an article is posted about jobs it weakens them, like Dorothy's water on the Wicked Witch of the West. Of course we are the West but you know what I mean.
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